PHILIPPINES PRESS-MNTC to raise $223 mln in fourth quarter-Philippine Star

Mon Mar 31, 2014 8:55pm EDT

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Manila North Tollways Corp (MNTC), a unit of infrastructure conglomerate Metro Pacific Investments Corp, will raise 10 billion pesos ($223 million) in the last quarter of the year to finance its 18-billion-peso ($401 million) toll road connecting the north and south expressways on the main island of Luzon, the Philippine Star newspaper reported.

MNTC president Rodrigo Franco said the toll company could raise funds from existing shareholders or through issuance of bonds.

(link.reuters.com/bub28v)

($1 = 44.8450 Philippine pesos)

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NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Manila Newsroom; Editing by Sunil Nair)

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